DuPont De Nemours, Inc. (NYSE:DD) reported a Q2 FY23 sales decrease of 7% Y/Y to $3.09 billion, beating the consensus of $3.00 billion.

Yesterday, the company completed the previously announced acquisition of Spectrum Plastics Group. 

Q3 2023 Outlook: DuPont sees net sales of ~$3.150 billion versus consensus of $3.19 billion, Operating EBITDA of ~$755 million, and Adjusted EPS of ~0.84 versus $0.93 consensus.

FY23 Outlook: DD revised net sales guidance to $12.45 billion - $12.55 billion (up from prior $12.3 billion - $12.5 billion) versus $12.41 billion consensus and Adjusted EPS of $3.40 - $3.50 (down from the prior $3.55 - $3.70) versus $3.60 consensus.

"As we look at the current demand environment, we continue to expect fairly steady demand in most of our industrial-based end-markets within the E&I and W&P segments, although we expect sales moderation in our Water Solutions business due to slower demand in China. Within electronics markets, we saw sequential sales improvement in our Interconnect Solutions business during the second quarter with mid-single digit sequential sales lift expected in the third quarter. In Semiconductor Technologies, we assume sales in the second half of 2023 will improve slightly after setting an expected bottom in the second quarter," said Lori Koch, Chief Financial Officer.